Demand Assessment : Aurangabad

By Accommodation Times Research

Aurangabad: The city is used to be considered capital of backward Marathwada. It has a great legacy of culture and heritage. Early 90’s was the heydays for the city when MIDC was setting up industrial estates in and around the city. Apart from the tourist destination, the city is also a major hub of automobile, manufactures and liquor productions. Today many residential and commercial projects are being developed in and around the city. Local developers have geared up to grab opportunities. Plenty of lands and construction materials are available on ease. As any other old city, Aurangabad is divided in two part old part- which is situated in the centre of the city and new part, which is developing around the city.

Due to one of the biggest tourism place, the city has boomed in hospitality segment. Now the city is being activated by local real estate developers. Shopping malls, multiplexes, recreation place, supermarkets have been set up in the city. Houses on rent in Aurangabad are growing in demand, as the city is now a thriving hub of various industrial activities. Divided into four zones of industrial regions, the city is now home for a number of multinational companies. This has given an impetus to the sluggish real estate business and demand for homes is now reaching new heights. This sudden boom in the market of real estate business explains the growth in the market for rental houses in Aurangabad.

Aurangabad is embracing the latest trends in entertainment and retail – PVR and Fame are already established here. Prozone Liberty, a joint venture between Provogue and Liberty International of UK are setting up a shopping mall . The malls will accommodate hypermarkets, super markets, multiplexes, book and music stores and multi-brand outlets. Entertainment World Developers and HyperCity Retail also have plans to construct shopping mall-cum-multiplex projects in Aurangabad.

The changing face of the city can be evaluated by improved infrastructure with wide roads, flyovers, new shopping malls and multiplexes, hospitality facilities and education centers. The city is witnessing the changes.